Good news and Bad news
FrankMy co-owner and I just went through similar problems with our 20 year old 1GM in our Hunter 27. If you have the technical ability and tools to check the compression, that would be my next recommended step. Or get a mechanic out that can do it. Our similar problems turned out to be a cracked head. The mantra on diesels is fuel, fuel, fuel, which I believe is true. However, on a raw water cooled, twenty year old diesel, if you have eliminated the fuel possibilities, it might be a bit more complicated and expensive. See the long version of our story below. Good luck!After 2 months trying to fix what we thought was a fuel problem and becoming very frustrated, we called in the local experts. The first visit resulted in a new mixing elbow and general "tune up", and the engine ran well for about 8 motths after that. But we still were having quite a bit of black soot on the transom, and performance seemed a little less than it should have been.Then we had a fuel tank leak problem, and replaced the tank, which was not related to our engine problems. The reason I mention it is that this reinforced the idea that it was not a fuel issue, at least from a fuel quality standpoint.Not too long after that, the engine began to get picky about starting. Finally, one day, it just wouldn't start (luckily we were in our home slip at the marina that day!). We coaxed it to life with much difficulty, and once it had run for a few minutes it would start again right away. But if we left it for a couple of hours or so, it would refuse to start again. So the mechanic was called again, and he did check everything that you listed in your post. Finally he brought out the compression tester and realized that the compression was low. He removed the head and took it to the shop to be cleaned and tested, and sure enough it had one large crack near where the mixing elbow connected, but also one very critical hairline crack inside, which was causing the compression loss. Bottom line: $1200 repair including labor, but she runs like a dream now!Take care,Ron